Harvest Portfolios Group Inc. Sells 17,854 Shares of AngloGold Ashanti PLC $AU

Key Points

• Harvest Portfolios Group Inc. reduced its stake in AngloGold Ashanti PLC by 49.5%, selling 17,854 shares during the first quarter, leaving it with 18,191 shares valued at $675,000.
• AngloGold Ashanti announced a new semi-annual dividend of $0.80, reflecting a significant increase from its previous $0.69 dividend, and a dividend yield of 610.0%.
• Analysts have had mixed ratings for AngloGold Ashanti, with a consensus rating of "Moderate Buy" and significant price target adjustments, including JPMorgan raising it from $58.00 to $63.00.

Harvest Portfolios Group Inc. cut its position in AngloGold Ashanti PLC (NYSE:AU - Free Report) by 49.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,191 shares of the mining company's stock after selling 17,854 shares during the quarter. Harvest Portfolios Group Inc.'s holdings in AngloGold Ashanti were worth $675,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its position in shares of AngloGold Ashanti by 2.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 11,353 shares of the mining company's stock valued at $424,000 after acquiring an additional 235 shares during the period. NewEdge Advisors LLC lifted its position in shares of AngloGold Ashanti by 9.4% during the 4th quarter. NewEdge Advisors LLC now owns 5,799 shares of the mining company's stock worth $134,000 after buying an additional 500 shares during the last quarter. Forefront Wealth Management Inc. lifted its position in shares of AngloGold Ashanti by 1.7% during the 1st quarter. Forefront Wealth Management Inc. now owns 38,529 shares of the mining company's stock worth $1,430,000 after buying an additional 638 shares during the last quarter. Global Trust Asset Management LLC bought a new stake in shares of AngloGold Ashanti during the 1st quarter worth $30,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of AngloGold Ashanti during the 1st quarter worth $30,000. 36.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Roth Capital restated a "buy" rating on shares of AngloGold Ashanti in a research report on Friday, August 1st. Wall Street Zen cut AngloGold Ashanti from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. JPMorgan Chase & Co. upped their target price on AngloGold Ashanti from $58.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, Scotiabank reaffirmed a "sector perform" rating and issued a $55.00 target price on shares of AngloGold Ashanti in a report on Monday, August 11th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $49.60.

AngloGold Ashanti Trading Up 2.8%

Shares of AU stock traded up $1.56 on Monday, hitting $56.76. The company had a trading volume of 3,967,429 shares, compared to its average volume of 2,701,117. The firm has a market cap of $23.82 billion, a P/E ratio of 15.10 and a beta of 0.53. The stock's 50-day moving average is $50.77 and its two-hundred day moving average is $43.23. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.22 and a current ratio of 2.99. AngloGold Ashanti PLC has a twelve month low of $22.45 and a twelve month high of $59.19.

AngloGold Ashanti (NYSE:AU - Get Free Report) last announced its earnings results on Friday, August 1st. The mining company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.06). AngloGold Ashanti had a net margin of 23.60% and a return on equity of 22.54%. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.29 billion. On average, equities research analysts anticipate that AngloGold Ashanti PLC will post 3.83 earnings per share for the current fiscal year.

AngloGold Ashanti Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be issued a $0.80 dividend. The ex-dividend date is Friday, August 22nd. This is an increase from AngloGold Ashanti's previous semi-annual dividend of $0.69. This represents a yield of 610.0%. AngloGold Ashanti's dividend payout ratio is currently 85.11%.

AngloGold Ashanti Profile

AngloGold Ashanti plc operates as a gold mining company in Africa, Australia, and the Americas. The company primarily explores for gold, as well as produces silver and sulphuric acid as by-products. Its flagship property is a 100% owned Geita mine located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.